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Wednesday, 16th February 2005 (6368 views)

Maaden has revealed new targets today to produce 100 tonnes of gold within ten years.<br/><br/>The Saudi Arabian mining firm is currently looking for foreign investment to undertake a number of key projects.<br/><br/>In addition, the business hopes that the new mining investment law would bring more foreign fund investment to the sector.<br/><br/>Muhammad Hani Al-Dabbagh, vice president for precious metals operations told MENAFN: "Maaden plans to produce 100 tonnes of gold within ten years and this requires SR2 billion in investments."<br/><br/>The company is now thought to be worth around several billion dollars and is involved in huge projects.<br/><br/>Maaden is now privatised and fully owned by the government.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7815566"/>

 

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